Former employees of Toys R Us are expected to file a request with the bankruptcy court to give their severance claims the same priority as suppliers, lawyers and financial advisers during the liquidation process. The request, which requires court approval and could face opposition by creditors, covers about 33,000 former employees.
Amazon's apparel sales are forecast to hit nearly $40 billion this year, and the company could be on track to become the country's top clothing seller by the end of the year, according to some analysts. By the end of 2018, Amazon is expected to command 38.5% of online apparel sales, according to eMarketer.
Target will open its newest small-format store in downtown Denver on Sunday, with a merchandise selection tailored to local tastes. The 30,000-square-foot urban store on the city's 16th Street Mall is in an area with a combination of residents, daytime workers and tourists.
FreshDirect has opened a 400,000-square-foot high-tech warehouse in the Bronx with the goal of growing its capability in its New York home, where it has been a leader in the crowded market for home delivery. The new facility features energy-efficient systems technology including robotic pick towers to assemble orders efficiently.
Petco has created a new store format called PetCoach, which devotes the majority of its space to services including veterinary care, dog walking, training and grooming. The pilot store in San Marcos, Calif., will be a testing site for the new services and a membership option as the retailer revamps its model in the age of Amazon.
Artificial intelligence solutions from startups Goat and Entrupy are designed to help weed out counterfeit luxury goods, a growing problem for retailers and brands. Goat's platform uses AI to determine the authenticity of sneakers, and Entrupy focuses on luxury handbags.
General Mills is bringing Oui by Yoplait Petites to US shelves, packaged in 3.5-ounce glass pots. The smaller versions of the company's Oui line come in Dark Chocolate Raspberry, Sea Salt Caramel, Chocolate with Shavings and Caramelized Apple flavors.
Walmart is reportedly looking to take on Netflix and Amazon Prime with the launch of its own streaming video service. The over-the-top offering would cost less than $8 per month and would have an ad-supported free video tier.
Walmart is expected to move executives from other countries to India to lead finance, legal and compliance departments after it finishes acquiring a 77% stake in online retailer Flipkart, sources said. The retailer, which already operates wholesale stores in India, has been focusing on reinforcing compliance with the US Foreign Corrupt Practices Act.
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